The ITAT Ahmedabad admitted additional evidence relating to foreign remittances and restored the matter to the DRP for fresh adjudication. It held that the documents were necessary for proper determination of the issues.
The ITAT Ahmedabad held that unexplained investment under Section 69 can be taxed only in the year the investment is actually made. Since the property payments were made in an earlier financial year, the additions for A.Y. 2016-17 were deleted.
The ITAT Mumbai deleted a transfer pricing adjustment of ₹61.22 crore after finding the facts identical to an earlier assessment year. It held that a pending High Court appeal does not dilute the binding nature of an unreversed Tribunal decision.
ITAT ruled that determining the arm’s length price of management service fees at Nil without following a prescribed transfer pricing methodology was not sustainable. It upheld the CIT(A)’s order deleting both the management fee and manufacturing segment adjustments.
The Allahabad High Court held that filing an appeal against an appellate order does not automatically stay its operation. It directed immediate restoration of GST registration in compliance with the appellate authority’s order.
